The true cost of crime in New Mexico, and how it hurts business and jobs

The true cost of crime in New Mexico, and how it hurts business and jobs

  • Post published:October 15, 2020
  • Post category:News

When businesses are the victims of criminal behaviour the costs are higher than just replacing stolen merchandise or cash register change. Repairing broken glass and busted locks is only the start of the sky high cost of crime that deters the success of local businesses and creation of new jobs. While crime rates in the Albuquerque area have seen a slight decrease, businesses overall in NM have experienced an uptick in commercial burglary due to the shutdown and prolonged closures. When criminals target a local business, it’s the owner who bears the cost of repair and recovery, not a chain or multinational conglomerate.

Crimes like vandalism, burglary, theft and other kinds of property damage cost businesses in money, time, and peace of mind at a time when many are struggling to survive. And the initial damage from a break in is just the first of many associated costs that hinder the growth of small businesses. Adding additional security measures like better locks, security systems, and alarms is very costly and is rarely a one time expenditure. But these examples still don’t come close to the societal costs of New Mexico’s crime epidemic. According to Albuquerque Police Department interim chief of police Harold Medina, “You have the costs in terms of businesses and what they are losing out, but also includes the resources the public puts into trying to prevent crimes.” From the police department budget to the corrections and justice departments, in addition to the costs from the public, he estimates the total cost of crime in the city would probably be in the billions. If New Mexico wants to improve our economy and continue to provide good jobs for our citizens we have to lower our crime rate and close the revolving door that allows us to be a haven for those who wish to engage in criminal activity. Click here to read more.